Peltz charged for taking property covered under loan
Lee Ann Peltz, 40, Bowlus, was charged Feb. 5, with one felony count of defeating security on realty.
In 2002, a loan was taken out on a farm site in Bowlus by Peltz, secured by Peltz mortgaging and conveying to Freeport State Bank all rights, title and interest in the property.
In Sept. 2011, the loan was foreclosed on, with Peltz remaining on the property through the one year redemption period.
On Sept. 21, 2012, a representative of the Freeport State Bank contacted the Morrison County Sheriff’s Office at the end of the redemption period. According to the criminal complaint, $33,725 worth of items were removed from both homes on the property without the permission of the bank that held the two mortgages.
On Oct. 4, 2012, a neighbor stated that it appeared several trailers had hauled things in and out of the Peltz residence in the weeks before he moved out.
A search warrant was executed for a semi-trailer found to have been used at the Peltz residence, which allegedly contained multiple items taken from the Peltz property. Officers then learned that some items had been placed in a storage shed at another residence.
If convicted, Peltz faces a maximum penalty of five years in prison and/or a $10,000 fine.